secwatch.observer — SEC 8-K summary
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Issuer:     STEM, INC. (STEM)
CIK:        0001758766
Form:       8-K
Filed at:   2026-03-04T23:59:59+00:00
Accession:  0001758766-26-000014
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stem achieves first positive annual adjusted EBITDA in FY25; guides to 85% growth in FY26
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- FY25 revenue $156.3M (+8% YoY); net income $137.8M vs loss $854.0M; adjusted EBITDA $6.7M (first positive annual).
- Q4 revenue $47.2M (-15% YoY) but non-GAAP gross margin improved to 45% from 36%; Q4 adjusted EBITDA $5.5M.
- FY25 bookings $131.8M (+14%); ARR $61.1M (+16%); solar operating AUM 36.1 GW (+21% YoY).
- FY26 guidance: targeting ~85% adjusted EBITDA growth and ~10% ARR expansion from FY25 levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758766/000175876626000014/0001758766-26-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758766/000175876626000014/stem-20260304.htm
  HTML page:      https://secwatch.observer/filing/0001758766-26-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer